Annual Report 2005 - Tenaris

The purchase and sale of merchandise, products and services
are carried out under normal market conditions;
balances of assets and payables between related companies
are subject to the usual market finance charges.
The main amounts of receivables and liabilities with
related parties were:
(I) Socotherm Brasil S.A. – balance receivable from commercial
operations, without guarantee, due on following
dates: R$ 155 in January 2006 and R$ 2,227 in June 2006.
(II) Tenaris Confab Hastes de Bombeio S.A. – balance
receivable from commercial operations, without guarantee,
due in June 2006.
(III) Tenaris Global Services S.A. – balance receivable from
commercial operations, without guarantee, due in February
2006.
(IV) Socotherm Brasil S.A. – advance made on pipe coating
services for Petrobras job (PDET Raso) to be used in
January 2006 and February 2006.
(V) Confab Trading N.V. – loan granted at average interest
rate of 3.25% p.a. plus libor, without guarantee, due in
May 2006.
(VI) Socotherm Brasil S.A. – balance receivable of R$ 6,023,
of which R$ 5,458 is related to a loan granted at interest
rate of 12% p.a., without guarantee, due in March 2006 and
R$ 565 is related to interest on own capital receivable.
(VII) Tenaris Confab Hastes de Bombeio S.A. – loan granted
at Selic rate interest, without guarantee, due in June
2006 and December 2006.
(VIII) Confab Trading N.V. – balance payable on commercial
operations, without guarantee, due in March 2006.
(IX) Siderca S.A.I.C. – balance payable of R$ 2,116, of
which R$ 242 is related to commercial operations, without
guarantee, due in February 2006 and R$ 1,874 is related to
interest on own capital payable.
(X) Socotherm Brasil S.A. – balance payable related to
provision of pipe coating services, without guarantee, due
as follows: R$ 1,068 in January 2006, R$ 3,125 in February
2006, R$ 510 in March 2006, R$ 142 in June 2006 and
R$ 86 in December 2006.
(XI) Socominter Sociedade Comercial Internacional Ltda. –
advance received on account of execution of work for
Petrobras (Paranaguá-Paraná), to be used in January 2006
and February 2006.
(XII) Confab Montagens Ltda. – balance payable related
to current account for intercompany operations, with no
determined due date, subject to interest of 1% per month.
69. Financial Statements 2005